(Reuters) – Boston Scientific Corp has agreed to buy the global surgical business of privately held Lumenis Ltd for $1.07 billion in cash, as the medical device maker looks to add an array of laser systems used in treating kidney stones to its portfolio.
The medical device maker said it was acquiring the business from Baring Private Equity Asia (BPEA), which will retain ownership of the Lumenis global aesthetics and ophthalmology businesses.
Boston Scientific, which currently sells Lumenis’s urology lasers in the United States and Japan, said the deal would now allow it to expand into high-growth regions including China.
“We are confident that Boston Scientific, as a global leader in urology, and our long-time commercial partner, is the best organization to carry this legacy forward,” said Tzipi Ozer-Armon, chief executive officer, Lumenis.
Boston Scientific expects to complete the transaction in the second half 2021 and sees no material impact to its annual adjusted earnings from the deal.
Reporting by Manojna Maddipatla and Trisha Roy in Bengaluru; Editing by Ramakrishnan M.